Is USDC a realistic alternative to fiat for holding savings?

I’ve been thinking about whether it makes sense to hold a portion of my money in USDC instead of keeping it in a traditional bank account.

This wouldn’t be for daily spending, just for savings or emergency funds. Where I live, holding fiat means constantly losing value due to inflation and a weakening local currency. I’m not really looking to earn interest or yield on it, I already hold BTC for that, i want to keep money pegged to usd. I just want a more stable way to preserve value, but also stay on self custody. USDC seems like an option, but I know it comes with risks. What are the pros and cons, risks? Is this a bad idea, or does it make sense?

I’d store it on my hardware wallet.